Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Sells 3,171 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Mark C. Schneyer sold 3,171 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total transaction of $54,065.55. Following the completion of the sale, the executive vice president now owns 56,889 shares in the company, valued at approximately $969,957.45. This represents a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

ACADIA Pharmaceuticals Trading Down 0.5 %

Shares of NASDAQ ACAD traded down $0.08 during midday trading on Wednesday, hitting $17.03. The company’s stock had a trading volume of 902,668 shares, compared to its average volume of 1,762,028. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.15 and a 12-month high of $20.68. The firm has a market cap of $2.84 billion, a P/E ratio of 21.83 and a beta of 0.43. The business’s 50 day moving average is $18.35 and its two-hundred day moving average is $17.02.

Institutional Trading of ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. increased its stake in ACADIA Pharmaceuticals by 2.9% in the 3rd quarter. Victory Capital Management Inc. now owns 97,130 shares of the biopharmaceutical company’s stock worth $1,494,000 after buying an additional 2,708 shares during the period. Natixis Advisors LLC grew its stake in ACADIA Pharmaceuticals by 58.6% in the 3rd quarter. Natixis Advisors LLC now owns 40,488 shares of the biopharmaceutical company’s stock worth $623,000 after acquiring an additional 14,961 shares in the last quarter. Quest Partners LLC increased its position in shares of ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 1,047 shares during the period. Advisors Asset Management Inc. raised its stake in shares of ACADIA Pharmaceuticals by 13.4% during the third quarter. Advisors Asset Management Inc. now owns 21,087 shares of the biopharmaceutical company’s stock valued at $324,000 after acquiring an additional 2,499 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at approximately $580,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft started coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 target price for the company. Guggenheim cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.93.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.